| 讲座简介： | This paper studies tax avoidance behaviors within the housing market and elucidates the implications of lifecycle inequality. Utilizing transaction-level data, we uncover several salient findings. First, the incidence of housing taxation is entirely borne by the buyers. Second, the absence of a verified transaction price in conjunction with existing housing tax structures creates an opportunity for buyers to under-report the value of their homes. Third, such under-reporting leads to tightened borrowing constraints for households, as the reported collateral value becomes less than the actual market price. Fourth, younger buyers are disproportionately disadvantaged due to more stringent liquidity constraints. To comprehensively understand these dynamics, we built a lifecycle model that characterizes the influence of taxation on housing choices and intergenerational inequality. The model is employed to assess the welfare implications of various policy scenarios. |
